Pakistan plans to reduce import tasks in the next five years significantly as part of his national customs policy 2025-30 in an attempt to increase industrial growth and export through a more competitive trade regime.

According to the plan to be initiated in fiscal policy for 2025-26, the country will trim the number of customs plates from five to four, with the maximum rate gradually lowered to 15% from the current 20%.

The current 3% plate will be eliminated and allocated either zero or 5%, while 11% and 16% plates will be revised to 10% and 15% respectively.

According to a statement released by Engineering Development Board on Saturday, additional Customs (ACD) will be phased out over four years, while regulatory tasks (RD) and the fifth schedule of the Customs Act – covering capital products and industrial raw materials – are removed within five years.

Police monitoring is in line with Prime Minister Shehbaz Sharif’s Directive to pursue export -led growth by simplifying the customs structure and removing distortions that inhibit industrial competitiveness, the statement says.

Industrial stakeholders have been invited to provide feedback on the proposed reforms and assess their probable influence on economic expansion and export benefit.

One of the two online consultations, chairman of top officials from the Ministry of Industries and Production, is scheduled to today (May 20).